SOURCE: Integrated Freight Corporation

Integrated Freight Corporation

April 20, 2016 09:00 ET

Integrated Freight Corporation Anticipates Audit Completion as Next Milestone

DANBURY, CT--(Marketwired - Apr 20, 2016) - Integrated Freight Corporation (OTC PINK: IFCR) announced today that its operations continue to generate approximately $24,000,000 in revenues, remains EBITDLA positive, and that it will submit its SEC Form 10-K annual report very soon. Last week, the Company issued a preview of its turnaround achievements to date which will be officially memorialized in its upcoming 10-K report.

"Today, IFCR is pleased to report that good progress has been made toward the completion of the audits of its prior year financial statements and the filing of our 10-K report," said Jace Simmons, CFO of Integrated Freight. "As most of our shareholders are aware, our filings were substantially delayed as a result of the administrative actions taken with the Company's former audit firm. As such, we are required to audit the prior two year period 2014-2015. Fortunately, we will be able to confirm much of our fiscal year end March 2016 period simultaneously."

According to Hank Hoffman, IFCR's COO, "Because of the SEC sanctions against our former auditor, IFCR engaged a new firm to re-audit previous reports which included the periods 2014 and 2015 as well as our March 2016 current year report. Timely filings remain our corporate priority and we have enlisted additional resources, as necessary, to complete this critical effort. Based upon our current timetable, we anticipate the 2014 and 2015 audits to be completed within the next six weeks and our current filings to be within SEC guidelines."

About Integrated Freight Corporation

Integrated Freight Corporation (OTC PINK: IFCR) provides long-haul, regional and local motor freight service. For its customers, the Company provides dry van and hazardous waste truckload services in well-established traffic lanes in the Upper Midwest, Texas, California and along the Atlantic seaboard. For its shareholders, Integrated Freight acquires operating motor freight companies that build, maintain and deliver shareholder value. The Company's corporate mission is to be the best niche motor carrier in North America.

Forward Looking Statements

This press release may contain forward-looking statements, made in reliance upon Section 21D of the Exchange Act of 1934, which involve known and unknown risks, uncertainties or other factors that could cause actual results to differ materially from the results, performance, or expectations implied by these forward-looking statements. The Company's expectations, among other things, are dependent upon economic conditions, continued demand for its products, the availability of raw materials, retention of its key management and operating personnel, its ability to operate its subsidiary companies effectively, need for and availability of more capital as well as other uncontrollable or unknown factors which are more fully disclosed in the Company's 10-Ks and 10-Qs on file with the Securities and Exchange Commission.

We may, from time to time, make additional written and oral forward-looking statements, including statements contained in our filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statements that may be made from time to time by us or on our behalf.